Compass Point Lowers TriplePoint Venture Growth BDC (NYSE:TPVG) Price Target to $7.25

TriplePoint Venture Growth BDC (NYSE:TPVG) had its target price dropped by stock analysts at Compass Point from $8.00 to $7.25 in a report released on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the investment management company’s stock. Compass Point’s target price suggests a potential upside of 1.33% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. Piper Sandler upped their target price on shares of TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the company a “neutral” rating in a report on Thursday, March 6th. Wells Fargo & Company cut shares of TriplePoint Venture Growth BDC from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $7.50 to $6.50 in a report on Monday. One analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $7.45.

TriplePoint Venture Growth BDC Price Performance

TriplePoint Venture Growth BDC stock opened at $7.16 on Tuesday. The firm has a 50-day moving average of $7.74 and a 200-day moving average of $7.49. TriplePoint Venture Growth BDC has a one year low of $6.44 and a one year high of $9.73. The company has a market cap of $287.18 million, a price-to-earnings ratio of 34.07 and a beta of 1.90.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its earnings results on Wednesday, March 5th. The investment management company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The firm had revenue of $25.75 million during the quarter, compared to the consensus estimate of $26.68 million. TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 16.86%. As a group, sell-side analysts expect that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Alpine Global Management LLC bought a new position in TriplePoint Venture Growth BDC in the 4th quarter valued at about $477,000. PharVision Advisers LLC bought a new position in shares of TriplePoint Venture Growth BDC during the fourth quarter worth approximately $84,000. Two Sigma Advisers LP increased its holdings in shares of TriplePoint Venture Growth BDC by 6.5% during the fourth quarter. Two Sigma Advisers LP now owns 830,492 shares of the investment management company’s stock worth $6,129,000 after purchasing an additional 50,800 shares during the period. Two Sigma Investments LP increased its holdings in shares of TriplePoint Venture Growth BDC by 21.9% during the fourth quarter. Two Sigma Investments LP now owns 678,034 shares of the investment management company’s stock worth $5,004,000 after purchasing an additional 122,039 shares during the period. Finally, Millennium Management LLC increased its holdings in shares of TriplePoint Venture Growth BDC by 180.1% during the fourth quarter. Millennium Management LLC now owns 120,602 shares of the investment management company’s stock worth $890,000 after purchasing an additional 77,551 shares during the period. 12.77% of the stock is owned by institutional investors.

About TriplePoint Venture Growth BDC

TriplePoint Venture Growth BDC Corp. is a business development company specializing investments in venture capital-backed companies at the growth stage investments. It also provides debt financing to venture growth space companies which includes growth capital loans, secured and customized loans, equipment financings, revolving loans and direct equity investments.